Navigating a full house renovation in Colorado can seem daunting for homeowners, especially when considering the complexities of getting three bids, getting permits, managing contractors, selecting materials, and overseeing the project.
Professional renovators often have dedicated crews of subcontractors and a whole warehouse of stored materials, leading to greater efficiency, but for homeowners, piecing together the project themselves or hiring a general contractor can add 20-35% more to the overall cost of their project. With a professional renovation team, the time to complete a whole house project typically takes 6-12 months compared to 12-18 months for individual homeowners without or without a GC.
The financial burden of a full renovation can be overwhelming, with costs ranging from $90,000 to $200,000 to the homeowner. Because of Colorado’s harsh climate, significant expense is added to maintaining or restoring a home. Roof replacements must be completed more frequently, window and door seals break down much faster in the direct rays of the sun, and home exteriors must be painted more frequently to maintain waterproofing from snow. Moreover, material costs have skyrocketed since 2020, further exacerbating the financial strain and creating much slimmer financial margins for sub-contractors.
In today’s market with the squeeze of available contractors and higher material costs, opting to sell a home for cash without a traditional buyer appraisal or inspection when listed and sold with a Realtor could present a more financially smart choice for the homeowner. Having someone else take on the burden of completing the repairs and assuming the associated risks could prove advantageous.
If you are interested in speaking more about selling your home for cash without worrying about repairs to meet the demand of a Buyer’s Market, please contact us below.